Faculty Scholarship

This essay examines the law applicable to secured transactions. It addresses in particular the codification of the choice-of-law rules for secured transactions (STCOL rules). These rules address the laws applicable to the creation, perfection, priority, and enforcement of security interests (security rights)—a form of legislative or statutory dépeçage. It draws on the 2016 UNCITRAL Model Law on Secured Transactions (Model Law) as well as relevant North American law (Uniform Commercial Code Article 9 and the Canadian provincial Personal Property Security Acts). The STCOL rules lie at the heart of the emerged and emerging modern principles of secured transactions law ...

Some Reflections On The Willem C Vis And Vis East International Commercial Arbitration Moots: Negotiating And Bridging The Civil-Common Divide, Siyuan Chen, Ruiyi Chan, Yiling Li

Research Collection School Of Law

This article draws from the co-authors’ personal experiences of competing in the Willem C. Vis and Vis East International Commercial Arbitration Moots and highlights the importance of awareness of diversity in legal traditions. The article focuses on points of divergence between the civil and common law jurisdictions in three main aspects: substantive law, procedural rules and advocacy techniques. Specifically, the article discusses the doctrine of good faith in the United Nations Convention on Contracts for the International Sale of Goods, the group of companies doctrine, and the concept of discovery and disclosure in the International Bar Association Rules on the ...

Legal Barriers To Supply Chain Connectivity In Asean, Locknie Hsu

Research Collection School Of Law

This is an Interim Report published pursuant to a Tier 1 research grant from SMU, examining legal barriers to doing business in ASEAN countries. The Interim Report presents research material and findings on such barriers and a number of actionable preliminary recommendations for policy-makers to consider and utilise. The main areas of barriers examined are corporate, trade, investment, land use, dispute settlement and legal information barriers encountered in the region. The Final Report is expected to be published in March 2018.

Cross Border Public Offering Of Securities In Fostering An Integrated Asean Securities Market: The Experiences Of Singapore, Malaysia And Thailand, Wai Yee Wan

Research Collection School Of Law

In 2015, the Association of South-East Asian Nations (ASEAN) Economic Community was formally established and its aim was to achieve, among other things, an integrated securities market within ASEAN.

Before the formal establishment of the ASEAN Economic Community, in 2009, with a view towards achieving the objective of securities integration, Singapore, Malaysia and Thailand adopted the ASEAN Disclosure Standards, a set of harmonized disclosure standards for issuers making cross-border initial public offerings (IPOs). These participating Member States also entered into a framework for the expedited review for cross-listings. However, more than 5 years later, there is no documented use of ...

Research Collection School Of Law

Squeeze-out transactions arecontroversial as the controlling shareholders may expropriate the minorities’shareholdings at unattractive prices. Existing scholarship has focused on theoptimal approach towards regulating such transactions in the US and the UK,which have widely dispersed public shareholdings, but little attention is placedon jurisdictions with concentrated shareholdings, which may necessitate adifferent approach given that the prospects of expropriation are very high.This article fills the gap by examining Hong Kong and Singapore, which haveconcentrated shareholdings. Notwithstanding the fact that they have adaptedtheir corporate and securities laws from the UK, Hong Kong ultimately providesgreater minority shareholder protection than Singapore. We present ...

Florida Law Review

Golden parachutes (GPs) are now standard contract provisions for public company CEOs. While they have become ubiquitous, they have also been severely criticized for harming shareholder value. As a result, GPs are subjected to intense shareholder activism and are uniquely penalized under both tax and securities law. Recent empirical work suggests that they may indeed be associated with poor firm performance, validating the steps taken to reduce or eliminate GPs.

This Article offers reasons to rethink the consensus that has developed around GPs. First, this Article highlights a substantial endogeneity problem, which earlier studies linking GPs and firm values fail ...

Florida Law Review

This Article offers the first systematic attempt to measure the development of shareholder protection in the United States across time. Using three indices developed to measure the relative strength of shareholder protection across nations, this Article evaluates numerically the protections corporate and securities law have offered shareholders from the beginning of the 20th century to the present day. It accomplishes this by tracking the rights accorded to shareholders across time under three important sources of corporate law: Delaware and Illinois and the Model Business Corporation Act.

Introduction: Marijuana Laws And Federalism, Erwin Chemerinsky

Erwin Chemerinsky

An Appraisal Of The Tax Implications Of Derivative Instruments In Nigeria, Oluwaseun Viyon Ojo

Oluwaseun Viyon Ojo

With the recent fall in the prices of Crude Oil and other commodities in the international Market and the attendant adverse effect on the Nigerian economy coupled with the Exchange risks arising from the sale and purchase of foreign currencies in the Foreign Exchange Market(FOREX), there was the need to come up with strategies for managing the risks associated with the fluctuations in the Exchange Rates by the introduction of derivatives for adoption by the various stakeholders and players in the market.Generally, Derivatives are usually used to hedge against risks and fluctuations in the Financial Market. The increasing ...

Benjamin Geva

The purchase of commercial paper issued in return for consumer goods [hereinafter referred to as consumer paper] is a common and wide-spread sales financing practice. Various judicial techniques and legislative schemes have been employed to disqualify purchasers of consumer paper from becoming holders in due course [hereinafter referred to as HDC], thus rendering these purchasers subject to defenses to the instrument based upon consumer dissatisfaction with the goods. Underlying the denial of HDC sttus to purchasers of consumer paper are the following premises: (1) the sale of consumer goods is not a commercial transaction and should not be governed by ...

Boston College Law Review

In the wake of a December 2014 decision by the Department of Justice to deprioritize enforcement of federal marijuana laws against tribes as well as states, many tribes have reevaluated their policies toward marijuana. Tribal attitudes toward marijuana are diverse; some tribes regard marijuana as a public health menace, whereas others see it as a source of economic opportunity. Where tribal policies are significantly more or less restrictive than those of the surrounding state, tribal-state relations have often suffered friction. The problem is particularly acute given the jurisdictional uncertainty that characterizes Indian country and the absence of any equivalent to ...

Marijuana, State Extraterritoriality, And Congress, Mark D. Rosen

Boston College Law Review

The Trump administration inherits the Obama administration’s policy of under-enforcing federal marijuana laws and a nation with a patchwork of divergent state laws. Although allowing diversity and experimentation, such divergence may impose spillover costs to some states. Some states may attempt to address these costs by exercising extraterritorial regulatory powers on their citizens. Although it is unclear and a matter of dispute whether and to what extent states have such extraterritorial authority, this Article shows that it is certain that Congress has power to set the bounds of state extraterritorial regulation, subject to only limited constitutional restraints. The Article ...

Boston College Law Review

This Article argues that the pending feuds between neighboring states over marijuana decriminalization demonstrate the need for a strict doctrine limiting a state’s regulatory authority to its own borders. Precedent recognizes that the dormant Commerce Clause (“DCC”) “precludes the application of a state statute to commerce that takes place wholly outside the State’s borders, whether or not the commerce has effects within the State.” This prohibition protects “the autonomy of the individual States within their respective spheres” by dictating that “[n]o state has the authority to tell other polities what laws they must enact or how affairs ...